T. Rowe Price has promoted two of its executives, confirmed company spokesman Brian Lewbart.
Rob Sharps was named president of T. Rowe Price, and Celine Dufetel was named chief operating officer.
Mr. Sharps replaces Bill Stromberg, who will continue to serve as CEO and chairman. The role of COO is new.
Ms. Dufetel's responsibilities will include overseeing the firm's global client account services, effective April 1, and global technology, effective July 1. Both executives will continue to report to Mr. Stromberg.
Mr. Sharps is head of investments and group chief investment officer and Ms. Dufetel is chief financial officer and treasurer. Both will continue to serve in these roles and remain members of the firm's management committee.
T. Rowe Price had $1.46 trillion in assets under management as of Jan. 31.